Northern Trust Corporation

Wall Street is getting the memo: donating to the Trump-Pence ticket may be more trouble than it's worth.

Goldman Sachs joined Credit Suisse and Northern Trust Corp. in warning or restricting employees regarding political donations to avoid violating the federal pay-to-play rule. The rule, meant to prevent firms and employees from making contributions as a quid pro quo for winning business, is complicating donations to the presidential race since Republican nominee Donald Trump chose Indiana Gov. Mike Pence, the de facto head of the state's public pension, as his running mate.

The Indiana system works with more than 50 large asset managers including BlackRock Inc., Blackstone...

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